BTC Crucial Decision Area!

Greetings Dear Investors and Traders!

Today we will analyze BTC both from a technical point of view and fundamentally! Without further Re-do, lets get to it!

After FOMC announcement at 14th of December, we faced hard rejection around 18,400$ area. Having said that, and considering BPS was increased by 50, We reached an all time high since 2007 when it comes to interest rates.
At the moment of writing price broke below the area of 17,500$, leading us to further drop at the local Fair Value Gap, which is also considered a critical decision point.

SCENARIO 1: In particular, if price breaks the threshold of 17,180$ which is the lowest key-point of the FVG, we forecast the price to touch the Orderblock indicated at the chart, which is also the local support area , around 16,881$ - 16,771$.
SCENARIO 2: On the other hand, which is more likely to occur, if price holds and daily candle closes above 17,500$, we can expect price to start gaining momentum to the upside. Hence, BTC is more likely to retest the recent Local High.
Nonetheless, if price get rejected and create a double top , that could indicate a valuable short opportunity, pinpointing us downward to the Orderblock area.
Alternatively, if price holds at the previous local high and consolidated at these levels, we can assume that buying pressure is kicking in, and a new upside move is on the way. Hence, that will eventually lead us to fill the Gap which operates as a magnet at 19,100$.
Make no mistake though, sentiment is still bearish , and moves tend to be hawkish. Therefore, after filling the Fair Value Gap at the abovementioned level, we consider that as a reversal area, and price most likely will try to fill the Orderblock at 16,700$ area.

Bear in mind though, reversals tend to occur, when everything indicated the opposite!
Trade with caution! Low leverage is advised at any circumstance!

Not a Financial Advise!
Best Regards, CryptoQueens
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